all indicators are garbage & the folks on here that say price. lol. But as the gentleman said before price is all that matters.
Range bars with moving average two line crossover 50,55 ema Trendlines projecting a channel and breakout Fibonacci projection to frame a trading range
Yes. #1 important. However, some 1st derivatives of price also have value.... like moving averages, Stochastics, RSI, %R, CCI. However there is more to them than "conventional wisdom".... which can be learned if one cares to make the effort. Personally I find "2nd derivatives of price", like MACD, to be worthless. (If you're taking a trade based upon MACD, you're already waaaay late.)
LOL...I'd be more than happy to discuss how all indicators are unreliable. At anyones convivence. Or you can choose any indicator you want & I will debunk why it doesn't work.
Best to have a towel handy if you try that... you'll need it to wipe the egg off your face. The only people who don't believe in "indicators"... 1. Those not smart enough to figure it out for themselves 2. Those who weren't taught how to use them 3. Those who "didn't believe it" when shown how to use them
The problem is that there are a number of different moving averages...How do you know which to use...but the most important piece...how do you define risk with moving averages alone? You can't...price in itself can give you clear cut ideas on when you are wrong.